Supply disruptions in Nigeria and a more buoyant demand outlook boosted crude prices to their highest in six months. Atlantic basin benchmark North Sea Dated climbed by $2.38/bl to $46.44/bl in the week to 12 May, its highest since 5 November 2015. US marker WTI rose by the same amount to $46.70/bl, holding its slim premium to its North Sea rival. Canadian oil sands production is gradually returning after wildfires in northern Alberta shut in an estimated 1.3mn b/d in early May. Shell began to restart units at its 255,000 b/d Scotford bitumen upgrader on 12 May after resuming production at its Albian Sands mining operation at reduced rates on 9 May.
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